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Risks to the revenue and collection cycle

Explain some risks to the revenue and collection cycle that are the result of improper revenue collection.

Solution Preview

When improper revenue amounts are reported as income, the risks are that

1. Revenue is overstated (or even understated) and usually the result of a timing issue or cut-off problem.
2. Revenue ...

Solution Summary

The solution provides a listing of seven types of problems or risks when revenue is improperly reported.

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